I will upload a free IOU form and explain how to write and download the IOU. First, you need to know what an IOU is. An IOU is a document written between a creditor and a borrower when you want to borrow money or goods. <In a word, I lent you money. This is a certificate.> If it is not a small amount, please be sure to write down the IOU and have it notarized. If you get it notarized, it will be easier to handle a dispute later. Just because it is not notarized does not mean it has no legal effect, but the process becomes more complicated. The legal limitation period for debt is 10 years.
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IOU form01.hwp
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Now, let’s look at how to write an IOU. What information should be included in the IOU form? Generally, an IOU is written by a debtor (borrower) and given to a creditor (lender), and [Main information on the IOU] is
Notarization of an IOU is done at a notary office (law firm where a lawyer works, etc.).
This refers to creating an IOU or certifying an IOU that has already been created.
The reason for notarizing the IOU
This is to ensure that the legal validity of the IOU is recognized.
In other words, the purpose is to have the IOU accepted as evidence in a trial.
For example, I wrote an IOU, but
If it is not notarized,
If an IOU is submitted as evidence in a lawsuit,
If the debtor denies that the stamp on the IOU is not the one he stamped,
The creditor must prove that the stamp on the IOU was stamped by the debtor.
However, if the IOU is notarized,
The debtor cannot deny the IOU.
In other words, the IOU that was notarized in the lawsuit
Because strong evidence is recognized,
The information written on the IOU (money borrowed by the creditor, expected date of return of the debtor’s money) is recognized as true.
It becomes impossible for the other party to deny it.
7. I’m curious about how to use an IOU
Filling out an IOU is easy.
All you have to do is fill out the IOU form.
Nevertheless, it is necessary to know how to write.
In the case of an IOU written between individuals, it is not effective.
Later, when a problem arises and a legal dispute arises,
This is because it can be important evidence.
If you had an incorrectly filled out IOU at this time,
Naturally, it becomes difficult to be accepted as evidence.
8. What is the content of the IOU?
The information that must be included in the IOU is simple.
In addition to the items below, by mutual agreement
Please note that you can also write additional information.
Personal information of the creditor (the person lending the money)
Personal information of the debtor (the person who borrows money)
Amount of debt (amount lent or borrowed)
interest rate
Repayment date and method (date and method of repayment)
Penalty for delayed repayment (penalty incurred when payment is due beyond the due date)
Other mutually agreed upon details
It must be written by the creditor and debtor in their own handwriting.
In the unlikely event that the process is carried out by an agent rather than the principal,
Personal information of the parties, including supporting materials,
You must also add your agent’s personal information.
And you usually sign a lot.
If possible, it is better to use a personal seal rather than a signature.
This is rather than a typical stamp or signature.
Since it has much public confidence, when adopting evidence later,
Because it can be advantageous.
9. Borrowing certificate notarization fee
In order to get notarized
A fee must be paid to the notary public office.
The cost of notarizing an IOU is as follows.
Purpose of legal action
Fee (cost)
Up to 2 million won
11,000 won
Up to 5 million won
22,000 won
Up to 10 million won
33,000 won
Up to 15 million won
44,000 won
When exceeding 15 million won
Add 3/2,000 of the excess amount, but it cannot exceed 3 million won.
10. Free IOU form
If you have checked how to write an IOU
Now, you can download and fill out the desired IOU form.
First, this is an IOU form in Korean.
There are forms that are simple to use and forms that allow for detailed records.
One . Personal information of creditor and debtor (handwritten is fine)
2 . Amount borrowed by a debtor from a creditor
3. Interest on the loan amount (interest rate)
4 . Maturity date of the rental amount (when will you repay it)
5. Where will you give it? (Location of repayment)
6. What to do if repayment is not made on the due date?
7. Other special provisions, etc.
This must be entered.